HFM
Licensed in 5+ jurisdictions and offering an account type for nearly every kind of retail forex trader.
Fact sheet
What kind of broker is it?
Flexibility is HFM's theme. It has six kinds of account. At one end is the Micro, which opens with $5. At the other are specialised PAMM accounts. Traders can copy others on its HFcopy platform, and the educational content is strong. The firm, HF Markets, traded for years as HotForex. Its entities operate under CySEC, the FCA, FSCA and DFSA, and under offshore licences from Seychelles and Mauritius.
Where the points come from
These points measure fit, not rank. When a broker gets 5.0 for something, we judged it by the demands of its own category and did not compare it with every other broker.
The good and the not so good
In its favour
- CySEC and the FCA are among its regulators
- Plenty of flexibility: six types of account
- The Micro account needs only $5
- HFcopy lets you copy other traders
- Helps clients in 27+ languages
- Trade on MT4 or on MT5
Against it
- No platform built in-house
- A fee starts after 6 months without activity
- Volume requirements are attached to its bonuses
- You can find tighter spreads elsewhere
Is it right for you?
Works well for retail forex traders who want options: MT4/MT5, a ladder of account tiers, and offshore leverage if they choose it. People testing automated strategies on a small balance are a particularly good match.
Trading CFDs means trading with leverage, and losing money is a real and high risk. Check that this broker may legally serve residents of your country before you deposit. Its full risk warning is on its official website.